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来源类型Working Paper
规范类型报告
DOI10.3386/w1607
来源IDWorking Paper 1607
Estimating the Effects of R&D on Bell System Productivity: A Model of Embodied Technical Change
Roger H. Gordon; Mark Schankerman; Richard H. Spady
发表日期1985-04-01
出版年1985
语种英语
摘要This paper develops an econometric model of the effects of R&D effort on the magnitude and characteristics of technical change in the Bell system. We estimate simultaneously a vintage capital production function, embodying several distinct types of capital, and various factor demand functions for the Bell system during the post-war period. Each vintage of capital is assumed to differ in productivity according to a parametric function of R&D effort embodied in that vintage of capital. Allowance is also made for augmenting technical change in the non-capital inputs. The model is estimated on a new, extensive data set which contains detailed information on the vintage structure of investment indifferent types of capital in the Bell system. Most previous papers in the field have assumed that technical changeis disembodied. However, we find that a model assuming capital-embodied technical change fits the data much better than one making the traditional assumption that technical change is disembodied. We use the parameter estimates to calculate the ex post rate of return earned on R&D expenditures at Bell Laboratories and the improvements in the productivity of specific capital inputs which are due to those R&D expenditures. The results suggest not only that the return to R&D expenditures has been very high, but also that it has been growing over time. In addition,the rate of increase in the productivity of capital inputs has risen over time. The model fails to produce a plausible estimate for the degree of returns to scale, but the results on the return to R&D effort are reasonably insensitive to what we assume about the degree of economies of scale.
主题Econometrics ; Industrial Organization
URLhttps://www.nber.org/papers/w1607
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/558848
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Roger H. Gordon,Mark Schankerman,Richard H. Spady. Estimating the Effects of R&D on Bell System Productivity: A Model of Embodied Technical Change. 1985.
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